A rare, low mintage, low pop, 1849 Seated Dollar

Walkerfan

With a mintage of just 62,600 and an NGC pop of 16/56 in MS 61 and 18/38 in MS 62; I couldn’t pass it up. I don’t usually buy MS 61s but rather prefer 62s and 63‘s, for this series, but I really liked the original toning and great color on this piece. There are no problems or singularly distracting marks that I can see, anywhere. I looked at a MS 62, on eBay, and the surfaces were horrible...It looked stripped, spotted and dipped out. Other 62s (of different years) were dark and/or unattractive, while still others had severe post mint damage, so my eyes kept wandering back to this piece. An archive search of GC and HA show VERY few examples sold, in both MS 61 and MS 62, over the last 10 years, so I decided to act. GC has only had three mint state 1849 LS$ coins since 2013 (all 62s). I think this example is a nice MS 61.

Most 1849s were exported, a familiar scenario, although enough returned from Europe, in payment for goods, that the 1849 is now regarded as one of the more readily obtainable issues of its type, in circulated grades. However, mint state coins are quite elusive and survived purely, as a matter of chance, there being no contemporary numismatic interest in circulation strike silver dollars.

The peripheries are enhanced by blushes of vivid cobalt blue, lemon and reddish-apricot iridescence. It's provenance is from the Bimyway Collection, which is an old-time set that was recently broken up. It was crossed/cracked from an old, white ANACS slab. I might send it to CAC, someday, as I think it would pass. I paid $150 below NGC retail.

kaz

Nice looking early seated dollar; so hard to find them unabused!

coinbuf

Nice looking purchase, congrats.

Crypto

Not bad for a 3rd or 4th skin but I don’t think it will CAC

That said with rare seated material you sort have to take what you can get until an upgrade comes along. That is nicer than most people’s upgrades.

Also careful with sliders if interested in the crack out game, easy to get upside down depending on price and spread between grade. The AU to Low MS range is where PCGS and NGC have the most difference in their standards

Nice write up and research

1northcoin

Very nice, thanks for posting both the photo and narrative.

tradedollarnut

Crypto expressed my thoughts rather eloquently

Inspired70

A difficult date to find in MS quality. @tradedollarnut's former MS 67 was simply spectacular and the best graded 1849 by two full points. I agree it may be a challenge to CAC, but worth a try.

Many of the 1849's with original toning I have seen over the years have golden/copper look to them that can be quite attractive and very different than how the 1848's and 1850's toned on either side of this important date.

Congratulations on your purchase of a difficult seated dollar year in MS.

Mr_Spud

Cool, thanks for posting. It makes me have a greater appreciation for the AU55 1849 one I picked up recently now that I know more about them.

johnny9434

A nice unmolested coin, I kime

ricko

A nice Seated Dollar....The detail on the devices makes it an attractive piece. Cheers, RickO

NumisOxide

Nice dollar!

shish

Crypto +1

ColonelJessup

JA and I have have had a couple of discussions about ANACS toning. Then I quit. He very rarely finds it acceptable.

A really difficult date in unc. I bought a (semi-muted/semi-flashy/70% likely natural) PCGS 62 (maybe a Stacks sale, or perhaps I later sold it in one) maybe 10 years ago that might have three'd, though I was certain it had already been passed on. Unlike @Crypto I think it's only been dipped twice What's "left" seems very acceptable to a knowledgeable specialist. A far distance from "settling".

Walkerfan

@ColonelJessup said:
JA and I have have had a couple of discussions about ANACS toning. Then I quit. He very rarely finds it acceptable.

A really difficult date in unc. I bought a (semi-muted/semi-flashy/70% likely natural) PCGS 62 (maybe a Stacks sale, or perhaps I later sold it in one) maybe 10 years ago that might have three'd, though I was certain it had already been passed on. Unlike @Crypto I think it's only been dipped twice What's "left" seems very acceptable to a knowledgeable specialist. A far distance from "settling".

Colonel, Thanks, that was VERY interesting and useful.

I thought about waiting for a good MS 62 but, after looking at auction records, I find that those 'events' rarely occur.

Besides, many 62s are now tied up in Registry sets and what remains may not even be as attractive as my coin in question.

Being that I'll never own a coin, of this issue, in a grade higher than 63; I am pleased with it. It is in my own acceptable and optimal grade range. Everyone is different. As Crypto said: 'It is better those most peoples' upgrades' and that is how I feel, too.

Also, I don't care if it doesn't sticker and I never intend to cross it, because I don't focus on just one type of plastic. Besides, I feel that it is properly graded. And no, It is not a slider in a low MS slab. NGC got it right, IMHO. What totally sold me on the coin was it's eye appeal. If it had been a plain, white example, I would have passed.

Thank You to TDN, as well, for chiming in. I also value and appreciate his thoughts.

asheland

Nice pick up!

SaorAlba

Very nice SL dollar, I like that series so much more than Morgan and Peace - there are just so darned few of them but I have managed to acquire a circulated, an O mint and a Proof example.

Walkerfan

@SaorAlba said:
Very nice SL dollar, I like that series so much more than Morgan and Peace - there are just so darned few of them but I have managed to acquire a circulated, an O mint and a Proof example.

Very nice. My goal is to have one from each decade that they were made. I have 3 out of 4, now. I have two Philly and one New Orleans. Then, maybe a Proof and a Civil War issue.

Inspired70

I love collecting unc seated dollars. Hard to come by but addicting once you start down that path!

coinkat

Great thread and we should be thankful to those that have shared their thoughts. Quick story...short and to the point... I had a shot to buy an 1849 in an NGC 58 holder about 20 years ago. I did not like it enough to buy. Well... twenty years later I still do not own the date. I doubt there is anything I can write or contribute to express how difficult it is to find quality examples for this series.

Not to end my comments on a downer, I did add a very attractive 1846-O within the past year. I will share an image once it is graded by our host. Spoiler alert... it could be the subject of a challenging GTG thread.

Inspired70

MS65

Walkerfan

@Inspired70 said:

MS65

That's gorgeous! Is this yours?? If so, how did you acquire it? I like that better than the pop 1 67!

WAYNEAS

Very nice pick up.
Wayne

cnncoins

TDN's former 1849 is the finest NM Seated Dollar I've ever seen. I bought this coin from Todd Imhoff when he was at
Pinnacle in a 66 Holder. I tried it 4-5 times at PCGS for a 67 (Prior to "+" grades) with no luck. I sold it to Laurie/Legend for Bruce's Seated Dollar Set and it upgraded for him. It was from the Fairfield Collection which sold in the 1970's.

The image of the 1849 $1from Inspired70 I believe I also handled in the early 90's. If it is the same coin, I purchased it
from Norm Pullen (from Maine I believe) who used to set up at major shows. He used to get some great coins!
Inspired, any idea of the history of the coin? Maybe you can confirm the history/pedigree.

Inspired70

@Walkerfan said:

@Inspired70 said:

MS65

That's gorgeous! Is this yours?? If so, how did you acquire it? I like that better than the pop 1 67!

Yes it is in my first seated set. Amazing color and the strike is a hammer strike. It has a copper/golden tone that is just electric in hand.

To CNN's comment above, I wish I did know the provenance, but unfortunately I do not. I would bet CNN is correct on this as he has handled a number of awesome seated dollars over the years.

I also have held the MS67 in hand and it is a truly awesome coin, but the strike on liberty's head and the stars is not nearly as defined as the MS65 IMHO.

Walkerfan

@Inspired70 said:

@Walkerfan said:

@Inspired70 said:

MS65

That's gorgeous! Is this yours?? If so, how did you acquire it? I like that better than the pop 1 67!

Yes it is in my first seated set. Amazing color and the strike is a hammer strike. It has a copper/golden tone that is just electric in hand.

To CNN's comment above, I wish I did know the provenance, but unfortunately I do not. I would bet CNN is correct on this as he has handled a number of awesome seated dollars over the years.

I also have held the MS67 in hand and it is a truly awesome coin, but the strike on liberty's head and the stars is not nearly as defined as the MS65 IMHO.

Thank you.

AMRC

I am glad you bought that coin. Any "Business" strike from that period and denomination coming back MS anything is a miracle. #notagradesnob.

ColonelJessup

The '49 in 65 has a look and toning that strongly resembles a common '71 in P65 CAC I bought out of a Pogue-appended Rarities Night. @cnncoins sold it for me about a year later. I think each us was lucky to make 5%

Walkerfan

@AMRC said:
I am glad you bought that coin. Any "Business" strike from that period and denomination coming back MS anything is a miracle. #notagradesnob.

Thank You. I really appreciate that. I feel fortunate to own it.